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Tuesday, May 17, 2022

Virtue signaling cost Disney $89 billion

Glenn Reynolds popularized the saying Get Woke, Go Broke, which mocks the insufferable liberal preening and virtue signaling.

Until now, the evidence has been anecdotal.

But three public opinion polls show that yes, there is a backlash against companies that take sides in the cultural war between Real Americans and people who don't even know their pronouns.

The Washington Times reported, "Nearly 9 in 10 American voters want corporations to stay out of politics, according to a poll released Monday. 

"The survey by the Trafalgar Group found that 87.1% of likely voters from all political affiliations said they were either very or somewhat likely 'to stop using a product or service of a company that openly advocates for a political agenda' that contradicts their beliefs. The remaining 12.8% said they were either not likely or not very likely to do so."

Taking sides in a political debate could cost you half your customers. Perhaps they should teach that in business school.

And despite years of liberals organizing boycotts (usually of companies they don't patronize anyway such as Hobby Lobby) the reality is going woke is a real deal breaker for conservatives.

The newspaper reported, "While 93.4% of Republican voters said they are likely to boycott a company that takes stances against their values, 84.5% of Democrats and 82.6% of independents said the same." 

Politics and business don't mix.

A year ago, the Hill reported, "A majority of voters believe it’s inappropriate for corporations to engage in political speech, a new Hill-HarrisX poll finds.

"61% of registered voters in the April 16-19, 2021, survey said it is not appropriate for corporations to engage in political speech.

"By contrast, 39% said it is appropriate."

There is a price to be paid for politicking as Disney discovered when it meddled in Floridian politics. It tried to pressure lawmakers to block passage of the Don't Groom Kids act, which bans teachers for talking about sex to kids 4 to 9.

Not only did Disney lose its special tax treatment and exemptions from state law, but the world's largest entertainment conglomerate also lost the respect of half the country.

Breitbart reported, "In a poll released over the weekend, NBC found (and hid) the fact that Disney’s net favorability rating has crashed 53 points to a devastating +3.

"A fall from a +56 to just a +3 in one year.

"Those numbers are fine for a politician. They are death for a corporation.

"NBC found that only 33% of those polled had a positive opinion of Disney, while 30% felt unfavorably towards the degenerate child grooming company."

It was 77% favorable/21% unfavorable a year ago.

That was a 53% shift. The long-admired company known for Dumbo, Bambi and Mickey Mouse lost the goodwill of half the country in one year's time.

That is a tidal shift that should cost its corporate management their jobs because they lost a company's reputation that took nine decades to build.

In that Breitbart piece, John Nolte wrote, "Along with its brand, the stock has tanked from $156 one year ago to just $107 today."

That's an $89 billion loss for its shareholders in one year's time.

Disney cannot simply flip a switch and regain the public's trust again. What sort of moron makes entertainment for children and then supports teaching kindergartners about sex?

Answer: Disney CEO Bob Chapek.

But his peers seem to have learned. I notice that the CEOs are shutting the heck up about abortion. Americans do not care to be lectured on the subject from CEOs.


  1. Replies
    1. They have. They fired Geoff Morrell, whom they only hired in January as their Comms head. I worked for him at BP. He was the worst boss I ever had. I drained a bottle of scotch to celebrate when I heard the news.

  2. CEOs need to stick to what they know -- running their businesses and making shareholders money. Disney will become a textbook case for students about how wokeness and corporations do not mix. To quote another one by Glenn Reynolds: Gooder and harder. (Good and hard, gooder and harder, goodest and hardest.) Whatever Disney gets, it's going to be well deserved and hopefully it will be goodest and hardest. At this point, thankfully, CEOs are staying out of the abortion debate. CEOs -- stay in your lanes!

  3. Unfortunately, this will only be a temporary setback.
    If Kaperneck, the NFL and kneeling for the National Anthem have shown us anything, it's people have short memories.

  4. Chapek was trying to do the right thing and stay out of politics and then folded to the LGBTQ-MOUSE executives hired by Iger.

    1. True - showing that backing down is even stupider.

    2. Instead of just keeping his trap shut altogether, he decided to "explain" the issue to the workforce via a company-wide email. Well, that opened the issue for discussion, and he got massive blowback from certain parts of the company. At that point, it was a boulder rolling down the hill.

  5. This should be a lesson to all CEO's who have a fiduciary responsibility to their shareholders. There are rumors that Disney may terminate Bob Chapek and re-hire former CEO Bob Iger in a temporary role until a permanent CEO can be found.

  6. Unlike many conservatives who lost their reputations from liberal slander, Disney can’t ask “where do I go to get my reputation back”. They lost it on their own. Like John Housman said in the old Smith Barney commercials, they earned it.

  7. It has happened before, witness the Ditzy Twits, but it was more individual.

    Disney under Walt and Roy was 100% All-American; Davy Crockett, Texas John Slaughter, Elfego Baca, and Francis Marion were all true life American heroes. Now Elsa and WhatsHerFace are not-so-closet Lesbos.

    Technically, this is what should have happened in the 60s, maybe as early as Jack Kennedy pushing James Bond (so we're talking '62 or so). Now, it's not teenagers, but toddlers and people having seen the rot of 50 years know what these people are doing.

  8. Growing up heard this all the time: stay out of politics and religion in a social setting. You never know what others think so it's best to avoid these 2 contentious topics.
    Why did anyone think this has changed? It's only grown worse.
    Any company waving their freak flag thought they were so special they didn't have to heed the laws of common sense?
    They deserve the beat-down.

  9. Disney hasn't learned their lesson. They just announced a new line of "trans" clothing. Suspect a major outlet will be Target, whom I wrote off several years ago.

    1. Disney profits from their parks are up. Sheeple are still going despite inflated prices. I know a big Disney fan who is happy about other people boycotting their parks. More room for her family, she said. Sad!

  10. shareholders who have experienced financial losses should sue the wokesters into homelessness.

  11. And yet Disney just announced a new children's line of clothing for gay kids.


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